Taiwan-RP export corridor deal to boost Subic-Clark investments
By EDU H. LOPEZ, Manila Bulletin
The expected signing by Taiwan and the Philippines of a super export corridor agreement between the special economic zones of Clark and Subic in the Philippines and Kaoshiung in Taiwan next month is seen to trigger off bigger Taiwanese investments in Luzon.
And to deepen the practical viability of the partnership, the Philippine Exporters Confederation, Inc. (PHILEXPORT) is taking the cudgels of resolving policy kinks that may get in the way of the super export corridor.
PHILEXPORT president Sergio R. Ortiz-Luis, Jr. noted that in the absence of formal government to government relations between Taiwan and the Philippines, his federation took the initiative of starting talks with the Philippine Chinese Business Council and exchanged trade missions with Taiwan since the year 2003.
Consultations with Taiwanese customs officials, the Taiwan Institute for Economic Research and other institutions were made.
The private initiatives led to the signing in Manila last December 5-6 of a memorandum of agreement (MOA) to start rolling off the establishment of the economic corridor.
PHILEXPORT will be closely working with the DTI, the Bases Conversion Development Authority, the Clark Development Corporation and the Subic Bay Development Corporation and other institutions in actualizing the corridor.
Taiwanese investments, mostly in Subic, had been pegged at USD1.5 billion by the end of last year. This is expected to accelerate soon after the corridor is formally in operation.
Among other things, Ortiz-Luis said, Taiwan is expected to transfer its manufacturing technology on the manufacture of liquid crystal displays, polymers and semiconductors.
The issues on the movement of workers between the envisioned corridor, and the setting up of financial services to Taiwanese locators in Subic and Clark, will have to be settled.
The Philippines is also looking at Subic and Clark as viable offshore platforms for Taiwan’s cluster industries in electronics and heavy industries.
The expected signing by Taiwan and the Philippines of a super export corridor agreement between the special economic zones of Clark and Subic in the Philippines and Kaoshiung in Taiwan next month is seen to trigger off bigger Taiwanese investments in Luzon.
And to deepen the practical viability of the partnership, the Philippine Exporters Confederation, Inc. (PHILEXPORT) is taking the cudgels of resolving policy kinks that may get in the way of the super export corridor.
PHILEXPORT president Sergio R. Ortiz-Luis, Jr. noted that in the absence of formal government to government relations between Taiwan and the Philippines, his federation took the initiative of starting talks with the Philippine Chinese Business Council and exchanged trade missions with Taiwan since the year 2003.
Consultations with Taiwanese customs officials, the Taiwan Institute for Economic Research and other institutions were made.
The private initiatives led to the signing in Manila last December 5-6 of a memorandum of agreement (MOA) to start rolling off the establishment of the economic corridor.
PHILEXPORT will be closely working with the DTI, the Bases Conversion Development Authority, the Clark Development Corporation and the Subic Bay Development Corporation and other institutions in actualizing the corridor.
Taiwanese investments, mostly in Subic, had been pegged at USD1.5 billion by the end of last year. This is expected to accelerate soon after the corridor is formally in operation.
Among other things, Ortiz-Luis said, Taiwan is expected to transfer its manufacturing technology on the manufacture of liquid crystal displays, polymers and semiconductors.
The issues on the movement of workers between the envisioned corridor, and the setting up of financial services to Taiwanese locators in Subic and Clark, will have to be settled.
The Philippines is also looking at Subic and Clark as viable offshore platforms for Taiwan’s cluster industries in electronics and heavy industries.
posted by OlongapoCity Zambales at
7:48 AM
0 Comments:
Post a Comment
<< Home